Spot ethylene prices posted modest gains on a CFR NEA basis this week, while ethylene offers to Southeast Asia actually moved lower this week. Although the effects of the March 11 earthquake in Japann are still being felt and crude oil prices have moved past US$105/barrel on the Nymex for the first time since 2008, high stock levels in China and Taiwan along with poor production margins for PE have prevented ethylene prices from posting more substantial increases.
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Thursday, March 31, 2011
Japan earthquake, crude at US$100, fail to push Asian ethylene higher
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